Europe Bio Plasticizers Market Size, Share & Trends Analysis Report By Product (Epoxidized Soyabean Oil (ESBO), Castor Oil-based Plasticizer, Citrates, Succinic Acid, and Others), By Application, By Country and Growth Forecast, 2024 - 2031
The Europe Bio Plasticizers Market would witness market growth of 8.2% CAGR during the forecast period (2024-2031). In the year 2021, the Europe market's volume surged to 260.62 Kilo Tonnes, showcasing a growth of 13.0% (2020-2023).
Castor oil-based plasticizers are gaining traction in the market due to their renewable and biodegradable nature, making them an environmentally sustainable alternative to conventional plasticizers derived from fossil fuels. Castor oil, extracted from the seeds of the castor plant, contains a high proportion of ricinoleic acid, which can be chemically modified to produce plasticizers with desirable properties. Thus, the Germany Market registered 18.01 Kilo Tonnes consumption of Castor oil-based plasticizers in 2023.
The Germany market dominated the Europe Bio Plasticizers Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $270.2 million by 2031. The UK market is exhibiting a CAGR of 7.2% during (2024 - 2031). Additionally, The France market would experience a CAGR of 9% during (2024 - 2031).
The increasing environmental concerns associated with traditional plasticizers have been a key driver for the growth of the market. Because of the potential adverse effects that conventional plasticizers, specifically those that contain phthalates, may have on human health as well as the environment, there has been a significant amount of concern regarding these plasticizers.
Phthalates are known to leach out of products over time, especially in applications like food packaging, toys, and medical devices, raising concerns about their potential to disrupt hormonal systems and cause other health issues. Bio plasticizers, on the other hand, offer a more sustainable alternative. They are derived from renewable resources such as plant oils, corn, and sugarcane, which are abundant and can be replenished.
The expanding market in Europe is driven by various factors, including the region's significant agricultural, automotive, and construction industries. For example, according to the UK Government, agriculture's contribution to the UK increased significantly in 2022, with Gross Value Added (GVA) reaching £13.9 billion. Hence, as these industries increasingly prioritize sustainability, its demand is expected to grow, presenting opportunities for regional manufacturers and suppliers.
Based on Product, the market is segmented into Epoxidized Soyabean Oil (ESBO), Castor Oil-based Plasticizer, Citrates, Succinic Acid, and Others. Based on Application, the market is segmented into Packaging Materials, Consumer Goods, Automotive & Transport, Building & Construction, Textile, Agriculture & Horticulture, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
List of Key Companies Profiled
- Avient Corporation
- BASF SE
- Cargill, Incorporated
- DIC Corporation
- The Dow Chemical Company
- Evonik Industries AG (RAG-Stifung)
- Lanxess AG
- Solvay SA
- ACS Technical Products
- Emery Oleochemicals LLC
By Product (Volume, Kilo Tonnes, USD Billion, 2020-2031)
- Epoxidized Soyabean Oil (ESBO)
- Castor Oil-based Plasticizer
- Citrates
- Succinic Acid
- Others
- Packaging Materials
- Consumer Goods
- Automotive & Transport
- Building & Construction
- Textile
- Agriculture & Horticulture
- Others
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 Europe Bio Plasticizers Market, by Product
- 1.4.2 Europe Bio Plasticizers Market, by Application
- 1.4.3 Europe Bio Plasticizers Market, by Country
- 1.5 Methodology for the research
- Chapter 2. Market at a Glance
- 2.1 Key Highlights
- Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Opportunities
- 3.2.3 Market Restraints
- 3.2.4 Market Challenges
- 3.3 Porter’s Five Forces Analysis
- Chapter 4. Europe Bio Plasticizers Market by Product
- 4.1 Europe Epoxidized Soyabean Oil (ESBO) Market by Country
- 4.2 Europe Castor Oil-based Plasticizer Market by Country
- 4.3 Europe Citrates Market by Country
- 4.4 Europe Succinic Acid Market by Country
- 4.5 Europe Others Market by Country
- Chapter 5. Europe Bio Plasticizers Market by Application
- 5.1 Europe Packaging Materials Market by Country
- 5.2 Europe Consumer Goods Market by Country
- 5.3 Europe Automotive & Transport Market by Country
- 5.4 Europe Building & Construction Market by Country
- 5.5 Europe Textile Market by Country
- 5.6 Europe Agriculture & Horticulture Market by Country
- 5.7 Europe Others Market by Country
- Chapter 6. Europe Bio Plasticizers Market by Country
- 6.1 Germany Bio Plasticizers Market
- 6.1.1 Germany Bio Plasticizers Market by Product
- 6.1.2 Germany Bio Plasticizers Market by Application
- 6.2 UK Bio Plasticizers Market
- 6.2.1 UK Bio Plasticizers Market by Product
- 6.2.2 UK Bio Plasticizers Market by Application
- 6.3 France Bio Plasticizers Market
- 6.3.1 France Bio Plasticizers Market by Product
- 6.3.2 France Bio Plasticizers Market by Application
- 6.4 Russia Bio Plasticizers Market
- 6.4.1 Russia Bio Plasticizers Market by Product
- 6.4.2 Russia Bio Plasticizers Market by Application
- 6.5 Spain Bio Plasticizers Market
- 6.5.1 Spain Bio Plasticizers Market by Product
- 6.5.2 Spain Bio Plasticizers Market by Application
- 6.6 Italy Bio Plasticizers Market
- 6.6.1 Italy Bio Plasticizers Market by Product
- 6.6.2 Italy Bio Plasticizers Market by Application
- 6.7 Rest of Europe Bio Plasticizers Market
- 6.7.1 Rest of Europe Bio Plasticizers Market by Product
- 6.7.2 Rest of Europe Bio Plasticizers Market by Application
- Chapter 7. Company Profiles
- 7.1 Avient Corporation
- 7.1.1 Company Overview
- 7.1.2 Financial Analysis
- 7.1.3 Segmental and Regional Analysis
- 7.1.4 Research & Development Expenses
- 7.1.5 Recent strategies and developments:
- 7.1.5.1 Acquisition and Mergers:
- 7.1.6 SWOT Analysis
- 7.2 BASF SE
- 7.2.1 Company Overview
- 7.2.2 Financial Analysis
- 7.2.3 Segmental and Regional Analysis
- 7.2.4 Research & Development Expense
- 7.2.5 Recent strategies and developments:
- 7.2.5.1 Partnerships, Collaborations, and Agreements:
- 7.2.6 SWOT Analysis
- 7.4 DIC Corporation
- 7.4.1 Company Overview
- 7.4.2 Financial Analysis
- 7.4.3 Segmental and Regional Analysis
- 7.4.4 Research & Development Expenses
- 7.4.5 SWOT Analysis
- 7.5 The Dow Chemical Company
- 7.5.1 Company Overview
- 7.5.2 Financial Analysis
- 7.5.3 Segmental and Regional Analysis
- 7.5.4 Research & Development Expenses
- 7.5.5 SWOT Analysis
- 7.6 Evonik Industries AG (RAG-Stiftung)
- 7.6.1 Company Overview
- 7.6.2 Financial Analysis
- 7.6.3 Segmental and Regional Analysis
- 7.6.4 Research & Development Expenses
- 7.6.5 Recent strategies and developments:
- 7.6.5.1 Product Launches and Product Expansions:
- 7.6.6 SWOT Analysis
- 7.7 Lanxess AG
- 7.7.1 Company Overview
- 7.7.2 Financial Analysis
- 7.7.3 Segmental and Regional Analysis
- 7.7.4 Research & Development Expenses
- 7.7.5 Recent strategies and developments:
- 7.7.5.1 Partnerships, Collaborations, and Agreements:
- 7.7.5.2 Acquisition and Mergers:
- 7.7.6 SWOT Analysis
- 7.8 Solvay SA
- 7.8.1 Company Overview
- 7.8.2 Financial Analysis
- 7.8.3 Segmental and Regional Analysis
- 7.8.4 Research & Development Expenses
- 7.8.5 SWOT Analysis
- 7.9 ACS Technical Products
- 7.9.1 Company Overview
- 7.9.2 SWOT Analysis
- 7.10. Emery Oleochemicals LLC
- 7.10.1 Company Overview
- 7.10.2 SWOT Analysis
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